J.P. Morgan Revenue Grows but Profit Slips

NEW YORK—J.P. Morgan Chase & Co. reported strong first-quarter revenue as demand for new loans continued to increase and capital-market activity improved.

Yet, the financial crisis continues to haunt J.P. Morgan: Its $5.4 billion profit reported early Friday was down 3.1% from a year earlier due to legal expenses, and charges related to the value of its own debt masked the increase in revenue.